Northern Development’s board of directors has approved nearly $2.5 million in funding for projects throughout central and northern B.C. in the first two months of 2014.
At the end of February, some 60 unique economic development and capacity building projects had been approved for funding, including:
- $250,000 for a new and improved Chetwynd visitor centre;
- $250,000 for a recreation centre and arena upgrade in Mackenzie;
- $250,000 for upgrades at Prince Rupert Airport;
- $250,000 for the development of the Port of Haida Gwaii at Port Clements; and
- $169,565 for downtown revitalization in the Village of Telkwa
The increase in funding approvals in 2014 is in part due to the Trust’s move to combine the regional funding accounts in 2013 to maximize grant outflows in each of Northern Development’s four service areas – the Northwest, Northeast, Cariboo-Chilcotin Lillooet and Prince George regions.
For example, in 2013, approximately $1.2 million in funding was submitted and approved for the Prince George region, compared with only $134,000 in 2012, representing an 800% increase in funding approvals in one year.
Meantime, funding approvals in the Northeast more than doubled in 2013 to $740,817 compared with $304,782 in 2012.
The Northwest region also witnessed a significant increase in funding approvals in 2013 to $762,605 from $533,059, while funding approvals in the Cariboo-Chilcotin Lillooet region held steady at $504,957 in 2013 compared with $504,977 in 2012.
The combined accounts and increase in funding approvals has been good news for small communities throughout the Trust’s service area – approximately 72% of Northern Development’s funding approvals go into communities with less than 5,000 people.
[quote by=”Evan Saugstad” position=”Chair” company=”Northern Development Initiative Trust”]The steady increase in funding approvals in 2013 and 2014 is a direct result of improved performance of our investment returns, which is how we deliver on our mandate to build a stronger north[/quote]
“2014 promises to be an exciting year as we continue to support projects through central and northern B.C. that drive job creation and revenue growth for our communities.”
“The $250,000 funding will really make a difference,” said District of Chetwynd Mayor Merlin Nichols. “We are very excited to start planning with the Chamber on the new relocated, renovated visitor centre in our community.”
City of Prince Rupert Mayor Jack Mussallem and City Council, along with the Prince Rupert Airport Authority and our residents, appreciate very much the funding from Northern Development Initiative Trust. “This funding provides opportunity and growth of facilities at the fastest growing port in North America, and trade and commerce across Western Canada and mid-western United States of America,” stated Mayor Mussallem.
“The Recreation Center is the heart of our community. As a winter community with a significant snowfall, this center provides an indoor space for many recreational and healthy activities,” said District of Mackenzie Mayor Stephanie Killam. “The Northern Development grant will allow us host more events and offer more services at the Recreation Center, which is important for the quality of life and economy in our community.”
“The Village of Port Clements is very appreciative of Northern Development’s grant for our ‘Port of Haida Gwaii’ project. Their support is another example of the Trust meeting the needs of northern B. C. and stimulating economic growth in our area,” said Village of Port Clements Mayor Wally Cheer.
“The Village of Telkwa welcomes private investment. Our municipal building has a large unused space and council decided to kick start the investment process by providing three commercial retail rental spaces in our Hankin Corner building,” said Village of Telkwa Mayor Carman Graf. “With the financial help from Northern Development we can lead this revitalization and make this rental space available. Council and staff wish to thank Northern Development for their help and financial support.”
Quick facts
- In 2013, Northern Development approved $6.1 million in funding for 222 economic development projects
- In 2013, the board approved more than 99% of the applications submitted to the Trust
- Approximately 72% of the Trust’s funding approvals go into communities with less than 5,000 people
- Since inception, the Trust has approved $118 million in funding to 1,327 projects throughout central and northern B.C.
- Northern Development provides grant and loan funding to municipalities, regional districts, First Nations and non profit organizations
- The Trust manages 13 distinct funding programs and a host of capacity building services that provide crucial support to 49 local governments and 88 First Nations communities in an area that encompasses 75% of B.C.
